Oman-India Joint Commission to discuss Free Trade Agreement with GCC

Oman and India will discuss business cooperation and Free Trade Agreement with the Gulf Cooperation Council (GCC) countries as a whole during the meeting of the Oman-India Joint Commission today.  

A high level delegation led by Qais bin Mohamed Al Yousef, Minister of Commerce, Industry, and Investment Promotion (MoCI), arrived in India on Wednesday to discuss trade between the two countries and with the GCC region.

The Minister is accompanied by a 48-member delegation, which includes Redha bin Juma Al Saleh, Chairman of Oman Chamber of Commerce and Industry. 

The multi-sectoral delegation has senior government officials and business representatives from Oman’s health, pharmaceuticals, mining, tourism, telecommunication, energy, shipping and real estate industries.

The 10th Session of the Oman-India Joint Commission, co-chaired by Piyush Goyal, India’s Minister of Commerce and Industry, and Qais bin Mohammed al Yousef, will take place as part of the delegation’s five-day visit.

A meeting of the Oman-India Joint Business Council, under the umbrella of the Federation of Indian Chambers of Commerce and Industry and the Oman Chamber will be held on Friday. At this meeting, ministers from both sides will interact with the business communities, the Indian Ministry of Commerce and Industry said.

“Business-to-business events, industry interactions and investor meetings are scheduled for the visiting Omani delegation during their stay in India,” the ministry said in a statement. “The visit provides an excellent opportunity to renew and further strengthen the already close and dynamic economic ties between the two countries.”

The Oman Chamber said that the ‘Invest in Oman’ forum will be a highlight of the delegation’s visit. It also announced that it will visit Mumbai.

Both sides acknowledged that the India-Oman trade had grown by a phenomenal 82 percent in the fiscal year 2021-2022, amounting to US$9.94 billion.